NewQuest Capital Partners, an APAC-focused secondaries platform owned by global asset manager TPG, has led a $465m (€422m) fundraising for a logistics vehicle managed by Hidden Hill Capital, the GLP-backed Chinese private equity manager.
GLP said that the Hidden Hill Foundation Fund was oversubscribed, with its investors coming from a well-diversified group, including parties from North America, Asia and Europe.
Min Lin, a founding partner of NewQuest Capital Partners, said the firm was delighted to lead the transaction, to support Hidden Hill, and through it, to gain exposure to a portfolio of “high quality and innovative” companies.
The fund will invest in modern logistics and supply chain ecosystems in China and Asia.
“The successful fundraise, which closed above the fundraising target in a matter of six months, is a strong vote of confidence from our investors,” said Higashi Michihiro, managing partner of Hidden Hill.
Teresa Zhuge, executive vice chairman of GLP China, said: “Hidden Hill invests in companies that leverage the strength of GLP’s logistics ecosystem and are taking part in the global energy transition.”
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